REMARKS BY THE PRESIDENT
IN SIGNING THE
FEDERAL OIL AND GAS ROYALTY SIMPLIFICATION
AND FAIRNESS ACT OF 1996

Teton Science School

Jackson Hole, Wyoming

11:35 A.M. MDT

THE PRESIDENT: Good morning, ladies and gentlemen. Let
me, first of all, thank the Teton Science School, its board members and
its staff who hosted us today. I want to acknowledge the school's 15
professional residents who are graduating today and heading off to teach
in environmental centers around the country. We thank you for what
you're doing.

I want to acknowledge Superintendent Jack Nichols and
the staff of the Grand Teton National Park, and Bridger-Teton
National Forest Supervisor Sandra Key. And I want to thank all of you.

My family and I are having a wonderful time again in
Wyoming this year. And yesterday we had a fabulous day for America when
we announced the agreement not to build the gold mine near the northeast
corner of Yellowstone -- (applause) -- and that the mining company would
agree to clean up pollution at the site, spend over $20 million to do
it, including pollution that they did not cause, in return for which the
United States will recognize their property rights and their investment
and make a land swap.

So I think it was an agreement in which everyone won.
And again, I would say what I said yesterday -- I hope that we can see
the kind of coming together in positive resolution of these matters that
we saw yesterday in many, many other areas. We have to find a way to
preserve our environment and to grow our economy, and we don't have to
make many of the choices that seem to be frozen in the public debate
today. So I was very encouraged by yesterday.

I also want to say that this is a very good day -- thank
you. (Laughter.) I planted those people out there. (Laughter.) I
want to thank the members of the energy industry who have come from all
over America to be with me today as I sign the Oil and Gas Royalty
Simplification and Fairness Act into law.

This is the latest in a series of bipartisan efforts
which passed the Congress -- in some cases unanimously, in other cases
almost unanimously -- at the very end of the session before the August
recess began. They represented a dramatic departure from what
happened in 1995 and the first half of 1996. We have welfare reform,
health care reform, a higher minimum wage, better retirement provisions
and other incentives for people who are running small businesses in
America, safer food and drinking water as a result of these
initiatives.

And I hope that this is an omen of things to come, because
this is the way America moves forward -- when we tone our rhetoric down
and work together and role up our sleeves and try to meet our legitimate
interests and protect our values, come to grip with these challenges, we
can do it. And I am very, very pleased by what happened in the last few
days of Congress. And as I said, I think the American people are, and I
hope we can see more of it.

Let me tell you a little about this act, which passed with
unanimous bipartisan support in both Houses of Congress. By simplifying
the way that royalties are collected and clarifying existing laws, this
law will speed the collection of millions of dollars in federal and
state revenues which the government is due, create many new jobs for
America's workers, and most important of all, will help to reduce our
own nation's reliance on foreign oil and gas.

Our economy, our environment, our national security depend
upon a healthy domestic oil and gas industry. Many Americans don't know
it, but a significant percentage of the oil and natural gas produced in
the United States comes from federal lands. Taxpayers earn about $4
billion a year from these sales. Tens of thousands of Americans work in
energy production jobs on federal lands. Until today, regulatory red
tape and conflicting court rulings had discouraged many companies from
taking full advantage of these resources.

I have been trying to change this since I took office. Our
administration has worked with the Congress, with governors, state
legislators, and others to stimulate domestic energy production while
protecting our environment. Recently I lifted the 23-year ban against
Alaskan oil exports and actively supported efforts to increase
production in the Gulf of Mexico.

About a year ago this month I made a commitment to many of
the people who are here with me today to win the passage of the bill I'm
about to sign. Today we're helping to protect our energy future as we
go forward into the 21st century stronger than ever.

Yesterday we showed that we can do these things in a way
that protects our natural environment for future generations. Again I
will say, when we work together there is nothing that can stop America.
We are celebrating that working together now and I hope we will have
more of it. We have plenty of challenges ahead, but the best times for
this country will be the 21st century if we do what we should do and if
we do it together.